According to the U.S. Consumer News and Business Channel (CNBC), on August 5 local time, President Trump of the United States said that Treasury Secretary Janet Yellen told him that she did not want to replace Powell as the next Federal Reserve Chair.

"I just asked him last night, is this what you want? 'No, I want to stay in my current position,' " Trump said during an interview with CNBC that day.

Trump said, "He is doing an excellent job, and he wants to continue doing what he is doing, so I will rule him out. He doesn't want this position. He likes being the Treasury Secretary. He's doing a really good job."

Trump said that there are currently four candidates under consideration for the Federal Reserve Chair, including former Federal Reserve Governor Kevin Warsh and White House National Economic Council Director Kevin Hassett, "Both Kevins are great."

Trump has long had a poor relationship with current Federal Reserve Chair Powell, repeatedly pressuring him to cut interest rates and threatening to fire him, causing concerns about the independence of the Federal Reserve's monetary policy.

Powell's term is scheduled to end in May next year. Last week, Federal Reserve Governor Adriana Kugler resigned early. The public believes that this move gives Trump an opportunity to choose someone who aligns with his preferences to influence the Federal Reserve's monetary decisions.

Bloomberg pointed out that Trump previously said he already has several people in mind to replace Kugler's position, and this person is likely to take over as the Federal Reserve Chair after Powell's term ends.

Before Trump's latest remarks, Bessen was considered one of the front-runners for the next Federal Reserve Chair. On the 4th of this month, Hassett said that Bessen was helping Trump find a candidate for the Federal Reserve Chair.

This article is an exclusive report by The Observer. Without permission, it cannot be reprinted.

Original: https://www.toutiao.com/article/7535089921586774564/

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